Timing_Solutions

GBPUSD triangle waves weekly analysis (12May2019)

Long
FX:GBPUSD   British Pound / U.S. Dollar
We have sufficient ground to suppose the pair moves higher: upper marker of falling red TW was broken; DMR (decision-making price range) at 1.2650-1.2750 demonstrated its support for turning upward. Yet, for now we do not have enter points as they might be within DMRs only. There are two of them closest to current price levels. Thus, I expect price at 1.2650-1.2750 to enter in long position. OR if price turns higher from current levels I 'll try to buy green TW at 1.3300-1.3400 after short cutback and consolidation above 1.3350.
I case, price falls and consolidates below 1.2650 I have to switch into bearish scenario parameters of which are determined later.
Daily chart doesn't provide any clearance in terms of subwaves. Here, we have the same potential setups as the ones described above.
Subwaves might be determined at H4 chart. As you may see current falling red wave contradicts the rising green one. Thus, we had sell limit setup at 1.3300 and the next one might be occured at 1.2600. Untill that we are looking for buy setups at closest DMRs.
On coming Monday price will tests one of DMRs and give us buy setup: buy 1.3000 SL 1.2950 TP1 1.3275 TP2 1.3275. If price continue to fall we'll wait for 1.2650-1.2700 to re-enter long position.

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